13th March, 2019 Morning Brief

Market will open on a positive note in continuation of yesterday's rally.

S&P, Nasdaq rise on tame inflation data but Dow felled by Boeing yesterday.

January IIP at 1.7% vs 2.6%, 
February CPI at 2.57% vs 1.97%, MoM

Nifty rallied for the second consecutive session yesterday post upside breakout of three months' ascending channel above 11118. As encored in previous blogs, the next levels on the horizon are 11440 and 11515 assuming the cushion of 10950 - 11050 level zone.

🎯 News & Impact 🎯

New IPO : MSTC opens today price band Rs.121-128.

🎯 Alkem Labs :
USFDA approved a new generic of Diovan (valsartan) by Alkem Labs to help relieve the recent shortage of this medicine. Shortages were the result of multiple recalls of generic valsartan products, as certain lots contained nitrosamine impurities.
Positive for the stock. 👍

🎯 Biocon :
Company received FDA Form 483 with two observations. First observation stated procedures designed to prevent microbiological contamination is not being followed. Second observation stated that written records of investigations into unexplained discrepancies don’t have adequate conclusion. 
⚠ Cautious about the stock.

🎯 Raymond :
Company clarified that termination of development management agreement with Corpus Realty for its realty project is because the company itself wants to undertake the development due to operational efficiencies. The project is expected to progress as per schedule.

🎯 TVS Motors :
Company increased its stake to 10.29 % in its credit services arm for Rs.30 crore.
Positive for the stock. 👍

🎯 Hindustan Fluorocarbon :
Board approved the valuation report and sale of the 66 acres 13 gunthas of vacant surplus land of company subject to the approval of the shareholders, Govt of India and Govt of Telangana/TSIIC.
Positive for the stock. 👍

🎯 Infosys :
Finacle Partners Hatton National Bank to Pioneer Blockchain-Based Trade Finance in Sri Lanka.

🎯 CMI :
Company executed its maiden export order from Mauritius for the supply of underground power cables.

🎯 V-Mart :
Company opened three new stores in Himachal Pradesh, Jharkhand and UP, taking the total store count to 207.

🎯 Jet Airways :
Company said that four more aircraft had been grounded due to non-payment to lessors.

🎯 Kalpataru Power Transmission : Company has completed the acquisition of Shree Shubham Logistics shares.

🎯 Advanced Enzyme Technologies : Promoter Chandrakant Rathi Innovations and Projects Pvt Ltd sold another 2.20 % stake in the company and reduced shareholding to 14.67 %.

🎯 Keerthi Industries :
Company successfully awarded the onshore contract area of KG/ONDSF/Gokarnapuram/2018 in KG basin under the Discovered Small Field Bid Round — II of offer contract areas.

🎯 Orient Tradelink :
Company announces a new film which will be based on Para Cricketers of India.
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Edited by Sharp.